Money Matters

Request:

We just can’t make ends meet. Our credit cards are all maxed out and all we ever talk about it money.

Response:

I am not a financial planner, although I will suggest you find one, but here are a few thoughts for starters.

1. Meditate on the Scriptural perspective of money and things.  See: 1 Corinthians 10:26 and 6:19-20; Romans 12:1-2; Matthew 25:14-30 (we are to be accountable stewards);

2. Make sure you have the right attitude towards money – 1 Timothy 6:10.

3. Don’t live beyond your means – Luke 14:28-30.    Establish a budget inline with your income.  Then stick by it.  A typical budget with some variations might look like:

Tithe 10%,
Food 14%,
Insurance 4%,
Recreation and Vacations 5%,
Housing 30%,
Transportation 13%,
Debts 5%,
Clothing 5%,
Medical and Dental 5%,
Savings %5,
Miscellaneous 4%.

If you can’t do it by yourself let somebody else manage your money for awhile who gives you no more than your budget allows.  This includes destroying or turning over all credit cards.  This sounds drastic but it will help you to get out of bondage.  After a while you may be able to manage it by your self again.

4. Don’t go shopping when you don’t have anything to buy.

5. Don’t indulge in unnecessary things.  This is where you also may need outside help until better spending habits are formed.

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